Open innovation and the importance of actively managing outward technology transfer
by Ulrich Lichtenthaler
International Journal of Technology Intelligence and Planning (IJTIP), Vol. 4, No. 4, 2008

Abstract: Besides absorbing external technology, open innovation involves the commercialisation of technology assets. External technology exploitation refers to the outward transfer of technologies exclusively or in addition to their application in a firm's own products, especially out-licensing transactions. Despite the enormous benefits of some pioneering firms, most companies experience strong managerial difficulties in externally leveraging technology. Because of the considerable opportunities and risks of technology licensing, a firm's strategy plays a critical role in achieving the benefits of outward technology transfer. After detailing the theoretical perspective of external technology exploitation, the paper explores major characteristics of the strategic approach of firms. The conceptual analysis suggests that, beyond an open approach to technology exploitation, the actual driver of technology licensing is the degree of actively commercialising technology assets. Firms that are open to licensing technology without actively initiating technology transactions are not able to fully realise the opportunities in the markets for technology. The study's implications for research and practice are discussed, and suggestions for future research are presented.

Online publication date: Tue, 21-Oct-2008

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